Ark's Wood sees U.S. now in recession, expects energy stocks to tumble

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Ark's Wood sees U.S. now in recession, expects energy stocks to tumble
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Energy stocks and other value stocks will likely be 'casualties' of falling inflation, said Cathie Wood, the star stock picker whose ARK Innovation Fund has come back down to earth, in a webinar on Tuesday.

Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David Swanson/File Photo

Rising interest rates have weighed heavily on the sort of "innovative" growth stocks, many of which are unprofitable, that Wood focuses on by raising the cost of borrowing.

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